This week marks three years since the Woolsey Fire came through Malibu.

This was undoubtedly one of the most devastating fires in Malibu’s history. Over 400 single-family homes were lost and approximately 670 structures were destroyed from the upper canyons all the way to the bluffs at Point Dume.

It is hard to believe that three years have passed. We rejoice with those who have been made whole and moved back to their homes. We mourn with those who have not. And we remember the trauma and difficulties faced by so many Malibu residents. This week, and always, we are #MalibuStrong. 🙏

In this blog post, we will take a look at the ongoing rebuilding efforts in Malibu, the market stats on burnout land lots, the expedited permit process, and more.

The Rebuild Effort

Since the Woolsey Fire, both the City of Malibu and the County of Los Angeles have attempted to help homeowners rebuild. With fee waivers for resident homeowners and an expedited permit process, the hope was to help anyone rebuild who wanted to do so.

In the City of Malibu, there have been 318 homes approved by planning, 209 permits issued, and 55 fire rebuilds completed. This means that just 13% of the homes lost in Malibu are now re-occupied. However, almost 80% of the homes lost have been approved for rebuilds by the planning department and over half have been permitted.

Perhaps by the four-year anniversary of the Woolsey Fire, we will see the majority of rebuilds completed.

What About Others?

From a source at the City, approximately 60 properties in Malibu have done nothing to begin the rebuilding process. This is completely understandable due to the trauma many suffered. Additionally, some homeowners have been forced to sue their home insurance companies for their settlement or in the worst case, they were under-insured to begin with.

Unfortunately, the City of Malibu did not extend the expedited permit rights for another year. This means that any burnout properties that have not submitted anything will now be subject to the regular permitting process and unable to keep non-conforming aspects of their properties. For those owners, this is a huge blow both to the rebuilding effort and the value of their property.

For those outside of the City limits, there is good news. The County of Los Angeles manages the unincorporated area of Malibu in the Santa Monica Mountains and they have their own deadlines. The best way to learn more is to get in touch with their regional office which is located off of Malibu Canyon in Calabasas.

Burnout Lot Update

Without the expedited permit process, it will be interesting to see how much the value of these burnout properties is lowered. There are currently still 10+ on the market, however, most were smart enough to get something submitted to planning prior to the deadline.

For those without anything submitted, they are still at an advantage. Building on previously developed land is clearly easier than raw land and any existing infrastructure is a value-add. However, for the lots that today would be “unbuildable,” the path is unclear.

3 years to the week, here are the statistics on burnout lot sales in Malibu:

• Total sales: 62
• Average list price: $1,784,670
• Average last asking price: $1,543,353
• Average sold price: $1,355,534
• Lowest sale price: $210,000 on Old Chimney Road
• Highest sale price: $4,500,000 on Harvester Road

This does not include off-market sales.

Since the Woolsey Fire, our team has transacted nearly $5.5M of burnout properties representing sellers and buyers. Our full-service approach and intimate knowledge of the market empower us to help our clients no matter what their situation may be.

For a consultation or with any questions, please give us a call at 310.994.4247 or email russell@compass.com.

What’s Next?

Malibu has a long history with wildfires; however, the Woolsey Fire was different. It was likely the most devastating fire to ever hit Malibu and the trauma for some residents is still present today.

We have seen amazing resilience in our community. Family, friends, and clients lost everything three years ago. Out of the tragedy, neighbors have helped one another and our community has built back in a way that only Malibu can. We look forward to seeing rebuilding efforts continue and more homes re-occupied! The love and neighborly care that have defined Malibu’s rebuilding effort is truly incredible. We have seen resilience in those affected, compassion among the entire community, and a willingness to help one another.

The Mark & Grether Group is proud to be Malibu’s #1 boutique real estate team with over $1 billion in transactions and 35+ years of experience.

From the coast to the canyons, we are a trusted resource to sellers, buyers, landlords and tenants. Get in touch at 310.230.5771 / russellandtony@compass.com